Payment system

RBI Governor launches new ISO 20022 compliant RTGS System

Dr. Raghuram Rajan, Governor, Reserve Bank of India, today launched the new Real Time Gross Settlement (RTGS) system of the Reserve Bank of India. Complimenting the entire team for successfully completing the project, the Governor said, "The new RTGS system is a great example of what we are capable of when we put our minds… Read More

Tags: IndiaISO 20022Payment systemRaghuram RajanReal Time Gross SettlementReserve Bank of IndiaRoyal Thai General System of TranscriptionRTGS

SEBI Circular w.r.t. Principles of Financial Market Infrastructures

CIRCULAR CIR/MRD/DRMNP/26/2013                                 September 04, 2013 To All Clearing Corporations and Depositories. Sir / Madam, Sub: Principles of Financial Market Infrastructures (PFMIs) Background 1. To promote and sustain an efficient and robust global financial infrastructure, the Committee on Payments and… Read More

Tags: CCPCentral Securities DepositoryInternational Organization of Securities CommissionsIOSCOOver-the-counter (finance)Payment systemSystemically Important Payment SystemsTrade Repository

Department of Food Launches Electronic Transfer of Funds

The Department of Food & Public Distribution has launched the system of electronic transfer of funds. Shri Sudhir Kumar, Secretary of the Department launched the system here today. On the occasion he said that the system would bring more efficiency in the financial working of the Department and would ensure quick and direct transfer of… Read More

Tags: CBSDepartment of Food & Public DistributionFinancial servicesGovernment of IndiaNational Informatics CentrePaymentPayment systemReserve Bank of India

RBI Committee suggests GIRO based Indian Bill Payment System

The Reserve Bank of India (RBI) has today released the report of the committee set up to study the feasibility of implementation of GIRO based payment systems in India (Chairman, Shri G. Padmanabhan). The committee has highlighted the need for developing an electronic bill payment system based on a GIRO model for payment of dues… Read More

Tags: CommitteeGIROIndiaIndian Banks AssociationMumbaiPayment systemReserve Bank of India

Clearing operations on March 29, 30 and 31, 2013

RBI/2012-13/454 DPSS.CO.CHD.No./1674/ 03.01.03/2012-2013 March 21, 2013 The Chairman and Managing Director / Chief Executive Officer All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks/Local Area Banks Madam / Dear sir, Clearing operations on March 29, 30 and 31, 2013 With a view to facilitate accounting… Read More

Tags: BankClearing HouseCommercial bankFiscal yearIndiaMarch 31 2013Payment systemReserve Bank of India

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